Wanguo Gold Group (03939) rose nearly 7% in afternoon trading. As of press time, it was up 6.22% at HK$13.33, with a turnover of HK$269 million.

On the news front, the latest central bank data showed that China's gold reserves stood at 77.47 million ounces at the end of September, an increase of 740,000 ounces month-on-month. This marked the 23rd consecutive month of gold purchases by China's central bank. Goldman Sachs' latest research noted that driven by strong demand from central banks seeking diversification of foreign exchange reserves, the gold price will rise to US$4,900 per ounce by the end of 2026.

It is worth noting that on September 16, the crushing system of the Jinling Gold Mine heap leaching plant was officially started for trial material testing and achieved complete success. This marked that the Jinling Gold Mine's 15 million tonnes per year expansion project officially entered the process system material commissioning stage, with overall construction progress continuously exceeding expectations.

Guojin Securities previously issued a research report stating that the Jinling Mine expansion is the core driver of Wanguo Gold Group's interim earnings growth.